Cable & Wireless Worldwide
 |
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| Industry | Telecommunications |
|---|---|
| Successor | Vodafone |
| Founded | Origins (circa 1860) Cable & Wireless Worldwide PLC (2010) |
| Defunct | 2013 |
| Headquarters | Bracknell, Berkshire, United Kingdom |
| Revenue | £2,257 million (2011) |
| £170 million (2011) | |
| £209 million (2011) | |
| Website | enterprise |
Cable & Wireless Worldwide PLC (informally Cable & Wireless) was a British multinational telecommunications services company headquartered in Bracknell, United Kingdom. It was formed in 2010 by the split of Cable & Wireless plc into two companies, the other being Cable & Wireless Communications.
Cable & Wireless Worldwide specialised in servicing large corporates, governments, carriers and resellers and its services included managed voice, data and based services. It had operations in Asia Pacific, Europe, India, the Middle East & Africa and North America. The company was bought by Vodafone in July 2012 and integrated into the business on 1 April 2013.
The company was formed on 26 March 2010, made up of the remaining business of Cable & Wireless plc following the demerger of the company's international division to form Cable & Wireless Communications. The split meant that the FTSE 100 Index temporarily held 101 firms, before Cable & Wireless Communications dropped to the FTSE 250 Index.
Following the split, CWW went through a tumultuous period - its shares, which hit a high of 98.5 pence after the split, valuing the group at $4.25 billion; fell to 13 pence in November 2011, increasing speculation it would be a takeover target.
On 28 June 2011, the board of Cable & Wireless Worldwide accepted the resignation of Jim Marsh and announced that John Pluthero, the then-Chairman, would become Chief Executive. On 14 November 2011, Cable & Wireless Worldwide announced that it had appointed the former Vodafone Group executive Gavin Darby as its new chief executive.
On 23 April 2012, Vodafone announced an agreement to acquire Cable & Wireless Worldwide for £1.04 billion.
Vodafone, who was looking to strengthen its integrated corporate services business arm - Vodafone Global Enterprise, bid for CWW with Tata Communications Ltd. also in the fray. Vodafone became the sole bidder after Tata group withdrew; and on 23 April 2012, Vodafone announced an agreement to acquire the operations of CWW for £1.04 billion in cash. On 18 June 2012, CWW shareholders voted in favour of the Vodafone offer, exceeding the 75% of shares necessary for the deal to go ahead. Vodafone was advised by UBS AG, while Barclays and Rothschild advised Cable & Wireless.
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